{
  "$schema": "https://clearmarket.fyi/schema/signal/v1.json",
  "record_id": "CMSIG2026102603",
  "record_slug": "fed-cut-above-25bp-in-2026-kalshi-3-2026-10-26",
  "schema_version": "v0.2.0",
  "provenance_version": "0.2.0",
  "published_at": "2026-10-26T14:23:00.000Z",
  "semantic_title": "Odds on a jumbo Fed cut in 2026 stay near long-shot territory",
  "telemetry": "Kalshi 3%",
  "headline": "Fed cut above 25bp in 2026: Kalshi 3%",
  "category_tag": "MOMENTUM_REPRICING",
  "secondary_tags": [],
  "detection_path": "news_cycle",
  "pre_news_classification": "concurrent",
  "status": {
    "state": "live",
    "as_of": "2026-10-26",
    "outcome": null,
    "outcome_basis": null,
    "final_price": null,
    "resolved_at": null
  },
  "target_event_id": "CM-EVT-RWRZ1R3SD6",
  "target_event_slug": "kxlargecut-26",
  "event_question": "Will the Federal Reserve do a rate cut greater than 25 basis points this year?",
  "linked_event_ids": [],
  "primary_market": {
    "platform": "kalshi",
    "platform_market_id": "KXLARGECUT-26",
    "question_raw": "Will the Fed cut rates more than 25 bps in 2026?",
    "current_price": 0.031,
    "volume_24h_usd": 28.16,
    "arbitration_model": "kalshi_staff",
    "resolution_source": "Federal Reserve",
    "resolves_at": "2027-01-01T15:00:00Z"
  },
  "related_markets": [],
  "bullets": [
    "The Kalshi prediction market puts only 3% odds on the Fed cutting by more than 25 basis points at any point in 2026.",
    "Steady Treasury yields ahead of the Oct 28 decision are consistent with a market that has almost fully ruled out an outsized cut this year.",
    "With inflation at 3.7% and the rate ladder implying a hold, the 97% implied probability against a jumbo cut reflects the macro backdrop.",
    "Resolves via the Federal Reserve's official rate announcements; a jumbo cut before year-end would require a sharp deterioration in economic conditions."
  ],
  "atomic_claims": [
    {
      "type": "news_event",
      "field_provenance": {
        "story": {
          "tier": "mediated",
          "method": "exa_search",
          "source": "Durva More",
          "source_url": "https://www.hindustantimes.com/world-news/us-news/us-treasury-yields-hold-steady-ahead-of-fed-rate-decision-pce-inflation-data-and-key-us-economic-reports-this-week-101793023833136.html",
          "retrieved_at": "2026-10-26T14:48:08+00:00"
        }
      },
      "significance": {
        "threshold": 5,
        "threshold_unit": "rank",
        "passed": true,
        "reason": "surfaced in the daily Exa news-cycle scan; mechanically matched to an active kalshi market"
      },
      "story": "U.S. Treasury yields held steady as investors awaited the Fed's October 28 rate decision and key inflation, jobs, and economic data due this week.",
      "publisher": "Durva More",
      "published_at": "2026-10-26T14:23:00.000Z",
      "source_url": "https://www.hindustantimes.com/world-news/us-news/us-treasury-yields-hold-steady-ahead-of-fed-rate-decision-pce-inflation-data-and-key-us-economic-reports-this-week-101793023833136.html"
    },
    {
      "type": "pm_response",
      "field_provenance": {
        "notes": {
          "tier": "editorial",
          "method": "llm_judge_cm_signal_v1"
        }
      },
      "notes": "Kalshi prices this binary at 3%, a firm long-shot read that aligns with the broader rate-ladder pricing of a hold at the Oct meeting."
    }
  ],
  "sources": [
    {
      "label": "Durva More: US Treasury yields hold steady ahead of fed rate decision, PCE inflati",
      "url": "https://www.hindustantimes.com/world-news/us-news/us-treasury-yields-hold-steady-ahead-of-fed-rate-decision-pce-inflation-data-and-key-us-economic-reports-this-week-101793023833136.html",
      "published_at": "2026-10-26T14:23:00.000Z",
      "retrieved_at": "2026-10-26T14:48:08+00:00"
    }
  ],
  "field_provenance": {
    "pm_data": "kalshi_api",
    "news_context": "exa_search",
    "editorial_judgment": "cm_signal_llm_judge"
  },
  "canonical_urls": {
    "html": "https://clearmarket.fyi/signals/fed-cut-above-25bp-in-2026-kalshi-3-2026-10-26/",
    "json": "https://clearmarket.fyi/signals/fed-cut-above-25bp-in-2026-kalshi-3-2026-10-26.json"
  },
  "license": "https://creativecommons.org/licenses/by/4.0/",
  "_provenance_registry": {
    "direct": "Unaltered extraction from primary venue/source API (e.g., polymarket_clob_api, kalshi_api, BLS, FRED). Highest trust tier.",
    "mediated": "Information fetched via grounded agentic retrieval (e.g., perplexity_grounded). MUST carry source_url to the underlying primary source.",
    "derived": "Algorithmic computation from listed inputs. Chain only as fresh as the oldest input timestamp (see as_of).",
    "editorial": "Interpretive classification produced by a versioned LLM prompt template (prompts auditable in github.com/JDSource/clearmarket/prompts)."
  },
  "_provenance_canonical": "https://clearmarket.fyi/schema/provenance/v1"
}